BitMine Immersion Tech Boosts Holdings to $13.4B – What’s Driving the Accumulation?

BitMine Immersion Technologies, a Bitcoin and Ethereum community firm targeted on long-term crypto accumulation, has introduced complete holdings of $13.4 billion, together with crypto, money, and fairness stakes in what it calls its “moonshots” portfolio.

In an announcement, BitMine mentioned of October 19 at 6:30 p.m. ET, its holdings comprise 3,236,014 ETH, valued at $4,022 per ETH, 192 BTC, an $119 million stake in Eightco Holdings (NASDAQ: ORBS), and $219 million in unencumbered money. The firm’s rising stability sheet reveals its increasing position as one in every of the largest institutional crypto holders globally.

BitMine Becomes the #1 Ethereum Treasury

BitMine now ranks as the world’s largest Ethereum treasury and the second-largest general crypto treasury, behind solely Strategy Inc. (MSTR), which holds 640,250 BTC valued at roughly $69 billion. The firm’s latest acquisition of 203,826 ETH over the previous week boosted its complete to 3.24 million ETH—representing roughly 2.7% of the complete Ethereum provide.

“The crypto market noticed one in every of its largest deleveraging occasions ever final week, placing downward strain on ETH costs,” mentioned Thomas Lee, Chairman of BitMine and Managing Partner at Fundstrat.

“Given the anticipated supercycle for Ethereum, this worth dislocation represents a lovely threat/reward. We are actually greater than midway towards our objective of the ‘alchemy of 5%’ of ETH.”

Regulatory Shifts Mirror Financial Turning Points

Lee drew parallels between present U.S. coverage shifts and the 1971 choice that ended the Bretton Woods system, which unpegged the U.S. greenback from gold. He famous that the GENIUS Act and the SEC’s Project Crypto might equally rework trendy finance, laying the groundwork for brand new digital asset infrastructure comparable to the Wall Street modernization that adopted in the Nineteen Seventies.

“These are catalysts that may outline the subsequent era of monetary titans,” Lee mentioned. “We imagine crypto belongings will show to be higher long-term investments than gold—simply as equities had been post-1971.”

Trading Volume and Institutional Momentum

BitMine has additionally turn out to be one in every of the most actively traded shares in the U.S., with a mean each day greenback quantity of $2.1 billion over the previous 5 days, in accordance to Fundstrat knowledge. That locations the firm #33 in U.S. buying and selling exercise, between Costco and Eli Lilly.

“BitMine continues to appeal to institutional investor capital as our high liquidity is interesting,” Lee added. “Together with MSTR, our mixed buying and selling quantity represents 88% of world DAT buying and selling exercise.”

Ethereum Price Action

Ethereum (ETH) is buying and selling at $4,037, up 1.8% over the previous 24 hours, as the market stabilizes following final week’s deleveraging occasion. The second-largest cryptocurrency by market capitalization has held above the key $4,000 psychological stage regardless of latest volatility.

Over the previous few months, ETH has fluctuated between $3,200 and $4,800 mirroring broader threat sentiment and liquidity shifts in digital belongings. After a pointy correction in early September, ETH discovered robust help close to $3,600 and has since rebounded steadily.

On the weekly chart, the present consolidation close to $4,000–$4,100 suggests potential accumulation, with bulls eyeing a breakout above $4,400 resistance to resume the uptrend. A sustained shut above that stage might open the door towards retesting the yearly high close to $4,800, whereas failure to maintain $3,800 might invite additional draw back strain.

Market analysts be aware that institutional ETH accumulation, together with BitMine’s latest buy of over 203,000 ETH, might help medium-term worth energy amid expectations of an Ethereum “supercycle” pushed by on-chain yield, tokenization, and post-ETF inflows

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